LIQUIDITY: One expert said that continued fund inflows amid a strong NT dollar reflected hopes that the US Federal Reserve will cut interest rates later in the year

Taipei Times
Date: Jun 23, 2019
By: Staff writer, with CNA and AFP

Local shares on Friday closed slightly higher as gains posted by semiconductor stocks offset losses suffered by other tech stocks and non-tech stocks during the session, dealers said.

The main board extended its gains from the previous few sessions to end above 10,800 points on the back of hopes that the US Federal Reserve would cut its key interest rates in the second half of this year, which is expected to boost liquidity levels in the global market, they said.

However, market sentiment was affected to some extent by geopolitical concerns after Iran shot down an uncrewed US surveillance drone on Thursday, they added.

The TAIEX on Friday closed up 18.76 points, or 0.17 percent, at 10,803.77, after moving between 10,773.47 and 10,840.29, on turnover of NT$148.45 billion (US$4.77 billion). That was an increase of 2.7 percent from a close of 10,524.57 on June 14.    [FULL  STORY]